CBRC official urges commercial banks to disburse more funds for small firms nationwide

The bad loan ratio in Shanghai will not rise sharply this year although financial risks will continue to emerge, said an official with the local banking regulator.

"It is impossible for the asset quality of banks in Shanghai to slump broadly, although some individual enterprises may default on loans," said Liao Min, director-general of the Shanghai Office of the China Banking Regulatory Commission, over the weekend.